After years of planning, Loyal Trust Bank opened in Johns Creek in January of 2020. Just a few weeks later, the pandemic hit.
Chairwoman Rose Jarboe says things were slow as COVID-19 began to close things down. But then businesses started turning to Loyal Trust for PPP loans.
“Personally, I got calls that said ‘I banked with so-and-so bank for so many years, but they’re not taking my application, they’re not helping us,’” said Jarboe. “And I said ‘we’re here to help you.’”
Loyal Trust, which is Asian-owned, is one of two community banks that is receiving deposits from Fulton County. In all, the county is putting $10 million of its $206 million in American Rescue Plan funds into minority-owned banks with a presence in Fulton County. The move is meant to help more small businesses get access to cash.
Fulton County deposits $10 million in minority-owned banks
By FOX 5 Atlanta Digital Team
Published
Unity National Bank is African-American owned and Loyal Trust Bank is Asian owned.
Each bank received a $5 million deposit Wednesday.
Last month, the Fulton County Board of Commissioners adopted legislation encouraging the deposit of federal funds allotted to the county into these institutions. There were only 18 or 19, as we stand before you today, Black-owned banks in the United States of America and that s a tragedy. So, with this effort I think that we are starting something again here in the state of Georgia in Fulton County in the city of Atlanta that is going to spread, said Fulton County Board Chairman Robb Pitts.
Georgia Asian Times
2021 GAT 25 Most Influential Asian Americans in Georgia
April 30, 2021
It s that time of the year where Georgia Asian Times recognizes the 25 Asian Americans Pacific Islander individuals who have make an impact in fields ranging from business, education, community service to politics. We honor these individuals for their contributions and dedication in their roles within the community.
We admit that the roster is incomplete and we may have omitted some well qualified Asian American Pacific Islander individuals. The list of “most influentials” have been submitted through online nomination and vetted by our selection criteria. Some names are familiar but a majority of the honorees deservingly earned their way to the roster.